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BUY A PROPERTY AT LEILOSOC®
There are some priorities that can be established to facilitate the search and subsequent purchase of a house with LEILOSOC®. We leave you some tips bellow.
Define what you Like in a House
First of all, you should think about what you want from your new home. List the features and surroundings that you like and that are important to you in a home. Whether it’s sunlight, elevator, proximity to schools, kitchen with island, living room with fireplace, video intercom or sea view, point out every detail. Then organize by priorities.
Establish Your Financial Availability
Once you’ve determined what you want for your new home, set your limits when it comes to financial burdens. For this purpose, pay attention to your current fixed expenses and your disposable income, so that you can define how much you can pay for your new property. If necessary, purchase a credit pre-approval.
Your Home Search
After a first approach and having already defined the characteristics you are looking for, from location, typology and values, the search process with LEILOSOC® follows. Starting the process online at Leilosoc.com, allows you, in a first phase, to save time by immediately eliminating the proposals that you do not consider favourable.
Property Visit
After finding your next property at Leilosoc®, it is advisable to visit it. On the auction page, you can see when visits to each property will take place. If the visits do not have a scheduled date, it is possible to make an appointment with the person in charge of the auction, whose contact is shown in the same link.
Preparation of the Proposal
Após visitado o imóvel, e tendo a certeza de que o pretende adquirir, está na hora de licitar, e apresentar, assim, a sua proposta! Para licitar deverá efetuar o registo.
Formalization of the Promissory Purchase and Sale Agreement (PPSA)
After the auction ends, and if your bid is accepted, you must sign the PPSA. On the date of signature, you should have already had the opportunity to analyze the property documents (Certificate of Land Registry, Land Book and Housing License).
When signing the PPSA, you must deliver a check with the down payment (see General Sales Conditions). The remaining amount will be paid at the time of the Public Deed.
If you resort to credit, all documents must be delivered to the credit institution responsible for financing the acquisition.
Additional Expenses
Final expenses are added to the price of the property. The buyer is responsible for paying some of these expenses with the transfer of ownership of the property. Ordinarily, these expenses include: charges related to mortgage loans (process instruction, appraisals), taxes related to the transfer of the property (IMT – except in cases of exemption) and any expenses related to the indispensable documentation. There is also the LEILOSOC® commission and VAT at the legal rate in force.
Public Deed
After signing the Promissory Purchase and Sale Agreement between all parties involved, the Public Deed is scheduled. When the Deed is completed, the buyer officially owns the property. You must register it at the Land Registry Office.
Moving
Ensure that water, electricity, telephone contracts are carried out. In case you need work, make sure you have access to several budgets so that you can choose the one that suits you best. And remember to only prepare the works when the Public Deed is granted. You should then prepare to move to your new home.
